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Cleary Gottlieb Steen & Hamilton New York partners Paul Shim and Benet O’Reilly are advising Japanese brewer and distiller Suntory on its $16 billion deal to buy Beam, the maker of bourbon brands such as Jim Beam and Maker’s Mark. Osaka-based Suntory, which makes a range of alcoholic beverages that includes Yamazaki whiskey and Premium Malt’s beer, will pay $83.50 in cash for each Beam share. The equity value of the deal is $13.6 billion, while Suntory will also assume more than $2 billion in debt. The deal is expected to close in the second quarter of 2014. Sidley Austin Chicago partners Thomas Cole and Beth Flaming are acting for Beam. [Read full story]

China/Hong Kong

Paul Hastings, which advised Chinese meat processor Shuanghui International Holdings Ltd. on its $7.1 billion takeover of Smithfield Foods Inc. last May, will also represent the company on an upcoming $6 billion Hong Kong initial public offering. Shuanghui is expected to apply as early as next week to list on the Hong Kong Stock Exchange, with a listing to follow no later than April, according to the South China Morning Post. Cleary Gottlieb Steen & Hamilton is acting for the underwriters, which reportedly include China Citic Securities, BOC International, Goldman Sachs, UBS AG, Morgan Stanley and Standard Chartered. Both firms declined to comment. [Read full story]

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